DC Lite #403

"S&P 500 earnings sentiment has been very strong over the past month"

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1. BTC accumulation. "All major Bitcoin cohorts by wallet size are back in near-perfect accumulation mode. Even >10K BTC whales are participating at levels last seen in Dec 2024. The alignment across wallet sizes suggests broad-based conviction behind the current $BTC uptrend."

2. Equity positioning. “Our measure of equity positioning rose again this week to turn overweight for the first time since late February.”

3. Hedge funds vs. Industrials. "Global Industrials stocks saw the largest net buying in over 5 years and 2nd largest on our record. The Prime book is now over-weight Industrials vs. the MSCI World Index by +5.8%, which is hovering 5-year highs in the 99th percentile."

4. Options volume. "Calls are almost 70% of the total market volume … hasn’t been this high since the 2021 meme days."

5. Earnings sentiment. "S&P 500 earnings sentiment has been very strong over the past month."

ICYMI

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